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Economy

Widodo promotes one-time tax amnesty on wealth overseas

President Joko Widodo appeals to wealthy Indonesians on Friday to bring offshore funds home for investment under a tax amnesty.

JAKARTA -- Indonesia's President Joko Widodo urged the business community on Friday to invest patriotically using a tax amnesty that offers low rates to individuals who declare their assets overseas.

In a 20-minute speech, Widodo told an audience of hundreds of people at the tax department's headquarters in Jakarta that this is a one-time offer.

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